Industry News

Due to uncertainty brought by Guinea's coup LME aluminum hits 10-year high

Views : 167
Update time : 2021-09-07 17:33:58
RUSAL’s president Oleg Deripaska said that the aluminum market may be impacted hard by the situation in Guinea, where a political turmoil broke out last weekend, Guinean President Alpha Condé had been overthrown in a coup, and the nation's constitution had been dissolved.

London Metal Exchange (LME) aluminum prices rose by 1% to US$2,776/ton yesterday (September 6), hitting a ten-year since May 2011, mainly due to a coup in Guinea, the main bauxite producer, raising market concerns about the supply of bauxite, an essential raw material for aluminum production.

LME aluminum prices have surged by around 40% this year due to the global large-scale stimulus measures, leading to a surge in demand.
Related News
Read More >>
What Tariffs, Steel Prices Mean for E&S Construction Insurance in California What Tariffs, Steel Prices Mean for E&S Construction Insurance in California
Apr .25.2025
What Tariffs, Steel Prices Mean for E&S Construction Insurance in California
Nickel Price Update: Q1 2025 in Review Nickel Price Update: Q1 2025 in Review
Apr .25.2025
Nickel Price Update: Q1 2025 in Review
Higher steel prices benefiting Region steel mills Higher steel prices benefiting Region steel mills
Apr .25.2025
Higher steel prices benefiting Region steel mills
Vale's net profit drops 17% on lower iron ore prices Vale's net profit drops 17% on lower iron ore prices
Apr .25.2025
Vale's net profit drops 17% on lower iron ore prices